Daily Archives: May 12, 2014

12May

Comex Commodity Trading Signals and Market News – 12th May 2014

INTERNATIONAL COMMODITY NEWS

Gold prices edged up in U.S. trading on Friday as Ukraine inched closer to civil war, which bolstered the yellow metal’s safe-haven appeal. On the Comex division of the New York Mercantile Exchange, gold futures for June delivery traded at 1,287.80 a troy ounce during U.S. trading, up 0.01%, up from a session low of $1,285.60 and off a high of $1,294.50. The June contract settled down 0.09% at $1,287.70 on Thursday.

Silver comex for July delivery was down 0.14% at $19.112 a troy ounce, while copper futures for July delivery were up 0.76% at $3.086 a pound.

Crude futures edged lower on Friday as investors sold the commodity for profits after locking in gains on Ukraine tensions and jumped to the sidelines to await fresh news to steer prices higher or lower. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in June traded at $99.90 a barrel during U.S. trading, down 0.36%. New York-traded oil futures hit a session low of $99.87 a barrel and a high of $101.15 a barrel. The June contract settled down 0.51% at $100.26 a barrel on Thursday.

• The ICE Futures Exchange in London, Brent oil futures for June delivery were down 0.29% and trading at US$107.82 a barrel, while the spread between the Brent and U.S. crude contracts stood at US$7.92 a barrel.

Natural gas prices fell on Friday as investors avoided the commodity after data release earlier this week revealed that stockpiles rose more than expected last week. On the New York Mercantile Exchange, natural gas futures for delivery in June traded at $4.517 per million British thermal units during U.S. trading, down 1.21%. The commodity hit session high of $4.598 and a low of $4.514. The June contract settled down 3.54% on Thursday to end at $4.572 per million British thermal units.

Base metals prices were mostly lower in Friday’s premarket, weighed down by weak Chinese data. The copper price edged $2 lower from Thursday’s close to $6,727 per tonne, ignoring a drop in inventories to their lowest since October 2008. Stocks fell a net 4,700 tones to just 208,325 tonnes due to drawdowns in Antwerp, Johor and New Orleans. Cancelled warrants were also lower, down 4,775 tonnes at 94,050 tonnes.The nickel price surged ahead, peaking at its highest since February 2012 at $20,500 before settling back at $20,070, still up $670 on the Goro shutdown news. Aluminium at $1,763 was $2 lower, with stocks down 8,600 tonnes at 5,313,300 tonnes and cancellations down 2,925 tonnes at 2,904,850 tonnes. The tin price declined $70 to $23,130 although stocks fell 200 tonnes to 9,505 tonnes. The lead price was unchanged at $2,095, with no change in stocks, and zinc ticked $1 lower to $2,032 – stocks and cancelled warrants were both down 1,325 tonnes at 761,175 tonnes and 127,050 tonnes respectively.

TRADING STRATEGY :

WTICRUDEOIL-NYMEX has closed @ 100.05. If it breaks the level of 99.87, it can touch the level of 99.37 & 98.69 respectively. If it sustain above the level of 100.47, it can touch the level of 100.97, 101.70 respectively.

•SELL WTICRUDEOIL-NYMEX BELOW 99.87 TGTS 99.37, 98.69 SL 100.52.
•BUY WTICRUDEOIL-NYMEX ABOVE 100.47 TGTS 100.97, 101.70 SL 99.82.

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12May
forex-trading3

IForex Market Trading Signals and News of 12th May 2014

TRADING TIPS

EUR/USD
EUR/USD was down 0.52% at 1.3768, up from a session low of 1.3755 and off a high of 1.3844.The pair was likely to find support at 1.3673, the low from April 4, and resistance at 1.3994, Thursday’s high.The European Central Bank this week left interest rates unchanged at 0.25%, though the euro dropped after ECB President Mario Draghi said the bank’s governing council is comfortable with acting at its next meeting after the bank publishes fresh inflation and growth forecasts.Draghi attributed weak inflation rates to food and energy prices, but added that the strong euro and weak domestic demand are also pushing down inflation.He reiterated that the ECB does not have a target for the euro exchange rate but stressed that the bank would closely monitor exchange-rate developments..

EUR/GBP
EUR/GBP was down 0.08% at 0.8168, up from a session low of 0.8163 and off a high of 0.8183.The pair was likely to find support at 0.8158, the low from Feb. 17, and resistance at 0.8248, Thursday’s high.The European Central Bank this week left interest rates unchanged at 0.25%, though the euro dropped after ECB President Mario Draghi said the bank’s governing council is comfortable with acting at its next meeting after the bank publishes fresh inflation and growth forecasts.Draghi attributed weak inflation rates to food and energy prices, but added that the strong euro and weak domestic demand are also pushing down inflation.He reiterated that the ECB does not have a target for the euro exchange rate but stressed that the bank would closely monitor exchange-rate developments.

RECOMMENDATION:
1. Buy GBP/USD Above 1.6960- TG: 1.6980/ 1.7010 SL 1.6930
2. Sell GBP/USD Below 1.6930- TG: 1.6910/ 1.6880 SL 1.6960

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12May
SGX2

Financial Sgx Singapore Stock Market Trading Picks And News – 12th May 2014

MARKET UPDATES

Real estate investment trusts in Singapore with growing exposures overseas in places like China, Japan and Australia are bucking the trend of lower returns at home where the city-state’s market has been slowing. Known as S-Reits, the US$49 billion sector, Asia’s second-largest after Japan, fared poorly in 2013. Jitters about the end of the US Federal Reserve’s stimulus programme and a series of moves by the Singaporean government to cool the property market raised concerns the trusts would lose their appeal to yield-hungry investors.

FORTUNE Real Estate Investment Trust (Reit)’s shares rallied on Friday, after the trust posted a 15.3 per cent rise in first-quarter distribution per unit (DPU) the previous day. Fortune Reit opened at HK$6.25, and extended gains to trade around HK$6.49, up by more than 4 per cent, or 27 HK cents, by 10.06 am. On Thursday, Fortune Reit said its income available for distribution rose 26.5 per cent to HK$193.9 million, or 10.38 HK cents per unit, for the January-to-March period, thanks to new property and rental reversions. Net property income increased to HK$289.2 million as the retail property trust recognised income from Fortune Kingswood, which was acquired in October 2013.

STOCK RECOMMENDATION:

  • BUY HONGKONG LAND ABOVE 6.800 TG 6.870, 6.950, 7.050 SL 6.700

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